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network profile
| bio | website | licensetoolkit.com |
|---|---|---|
| location | ||
| age | 41 | |
| visits | member for | 2 years, 4 months |
| seen | Sep 13 '12 at 3:39 | |
| stats | profile views | 2 |
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Aug 23 |
answered | What to do when an investor ask for a percentage of future revenues |
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Mar 19 |
answered | Do I need a phone number for my Saas application |
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Feb 22 |
comment |
If I incorporate, when do I have to start paying myself a salary? Heads up that in the USA the IRS may audit and fine subchapter S business owners who take dividends but not W2 or schedule C/SE income since dividends are exempt from payroll taxes. They see this as payroll tax avoidance. When you start taking dividends it will be smart to also take W2 or 1099 income which will be subject to payroll taxes. |
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Feb 7 |
answered | Can I use my personal bank account instead of a company account? |
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Jul 1 |
comment |
How to get hold of extra money if my company is LLC but elected to be taxed as S corp Nick - The LLC will file a 1120S (since you have s-corp selection) and attached to that 1120S is a K-1 that specifies you as a stockholder and what percentage (100% since you own 100% of stock) of the net income of the LLC (including your distributions since those are not expenses) and ALL of that K-1 income (not just the 44K distribution) will flow to your personal 1040. |
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Jun 30 |
answered | How to get hold of extra money if my company is LLC but elected to be taxed as S corp |
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Jun 24 |
awarded | Supporter |
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May 26 |
answered | Provide services to S Corp through LLC |
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May 21 |
awarded | Teacher |
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May 21 |
answered | The Sarbanes–Oxley Act and it's effect upon business |
